Gold futures closed lower in the domestic market on Thursday as equities markets overseas finished mostly higher, which cut some of the aggressive demand for gold as a short-term refuge amid a risk-off market sentiment shift. The battered dollar also improved Thursday.
Still, the haven demand underpinning gold remained a key theme as global markets prepared for the outcome of a major policy test for the Trump administration and a Republican-led Congress. At the MCX, gold futures for April 2017 contract ended at Rs 28800 per 10 grams, down by 0.29 per cent, after opening at Rs 28,819 against a previous close of Rs 28,885. It touched the intra-day low of Rs 28,750.